The ABR Market Brief is designed to offer an overview of the Atlanta residential market by providing a synopsis of sales, home prices and foreclosures. Covers 11 counties: Cherokee, Clayton, Cobb, DeKalb, Douglas, Fayette, Forsyth, Fulton, Gwinnett, Paulding and Rockdale.
December Comments
Demand: December residential sales were at 4,054, an increase of 4.7% from the previous year.
Price: Average and median sales prices continue to gain traction and outpace 2014’s figures, with positive gains. The median sales price in December was $225,000, an increase of 7.1% from last December. The average sales price was $286,000, up 5.5% from the previous year.
Supply: Atlanta area housing inventory totaled 13,840 units in December, a decrease of 2.9% from December 2014. New listings totaled 2,904, up 2.3% from December 2014 and down 16.4% from the previous month. The supply for sales over a 12 month period declined to its lowest in 2015, at 3.2.
A Word from 2016 ABR President Lane McCormack: “December was a very healthy month for the Atlanta housing market. Once the final numbers are in for 2015, I am confident that we will see a year of immense improvement, setting the stage for a return of more normal conditions in the months to come. According to Realtor.com, home prices rose 5-7% nationally in 2015, this growth is very evident in Metro Atlanta. Despite these rising prices, affordability remained strong, as we ended 2015.”